東アジアにおける最適な金融システム　研究ユニット

第4回東アジア金融・会計カンファレンス

2008年12月12・13日 、「第４回東アジア金融・会計カンファレンス」を長崎県美術館で開催しました。このカンファレンスは文部科学省「平成20年度大学院教育改革支援プログラム」の一つとして採択された「新興金融市場分析の専門家育成プログラム－アジアを中心に世界で活躍するファイナンス・プロフェッショナル育成プログラム－」の一環として開催されました。

須齋正幸大会委員長の挨拶の後、２日間にわたり研究報告とディスカッションが行われ，予定時間を大幅に越えるほどの活発な意見交換がなされました。

2005年の第１回カンファレンス以来，毎年内外の研究者を招聘し、本学部教員との間で着実に研究ネットワークを構築することにつながっています。第４回目となる今回は、これまでの各国を代表する大学からの一流の研究者を招聘する事に加え、新しい試みとして、報告者の国際公募を行いました。その結果、世界各国の研究者から論文の応募があり、19の研究報告がなされました。この研究ネットワークは，今後の本学部金融分野を中心とする研究の発展に大いに貢献すると期待されます。

The 4th East-Asian Conference on Finance and Accounting　(as of Dec.9)

December 12（Fri.）13:30～
Venue：Nagasaki Prefectural Museum
Registration 13:30～
Opening Address 14:30～14:40
Masayuki Susai (Nagasaki University)

Session I　 14:40～15:40
Corporate Finance
Chair: Shigeru Uchida (Nagasaki University)

1. Mohamad Jais (University Malaysia Sarawak)
   “The Choice between Dividend and Share Repurchase”
2. Sarwar U. Ahmed (Independent University), Shigeru Uchida (Nagasaki University)
   “Impact of Relationship Banking in East Asian Economies: Lessons for Developing　Countries”
3. Sunti Tirapat (Chulalongkorn University)
   “Founding CEOs and Firms’ Performance: Evidence from Thailand”

Session II　16:00～17:00
Capital Market I
Chair: Ken-ichi Tatsumi (Gakushuin University)

1. Takeo Minaki(Hokusei Gakuen University)
   “Volatility and Liquidity; Volume and Bid-Ask spread”
2. Jinwoo Park (Hankuk University of Foreign Studies)
   “The Impact of Global Trading of Stocks on Return Volatility: Evidence from the Korean Stock Market”
3. Ken-ichi Tatsumi (Gakushuin University)
   “Hedging, IPOs and Japanese Days-of-the-Week Stock Return Patterns”

Reception: 18:00～

December 13（Sat.）9:30～
Venue：Nagasaki Prefectural Museum
Registration 9:30～

Session III　 10:00～10:40
Accounting & Corporate Governance
Chair: Yukihiro Maruyama (Nagasaki University)

1. Bi-Huei Tsai (National Chiao Tung University)
   “The Impact of Enterprise Resource Planning Systems on the Efficiency of Taiwanese Firms”
2. Thierno Amadou Barry (Universite de Limoges), Santos Jose Dacanay III (University of the Philippines), Laetitia Lepetit (Universite de Limoges), Amine Tarazi (Universite de Limoges)
   “Ownership Structure and Bank Efficiency in the Asia Pacific Region”

Session IV　11:00～12:00
Capital Market II
Chair: Hiroshi Kamae (Hitotsubashi University)

1. Rong Ding (Bradford University School of Management), Peng Cheng (University of Antwerp)
   “Speculative Trading, Heterogeneous Expectations and Short-sell Constraint -Empirical Evidence from Hong Kong Through-Train Scheme”
2. Qiang Liu (Southwestern University of Finance and Economics), Song-Ping Zhu (University of Wollongong), Wei Fan (University of Electronic Science and Technology of China)
   “The Puzzle of Warrants Trading below their Intrinsic Values in China’s A-Share Market”
3. Masaya Ishikawa (Hitotsubashi University), Hidetomo Takahashi (Hitotsubashi University)
   “The Effect of Information Production and Bank Relationships on Financing Choice”

Session V　 13:20～14:00
International Finance
Chair: Masayuki Susai (Nagasaki University)

1. Chien-Hsiu Lin (National Chengchi University)
   “Asymmetric Exchange Exposure in the Asian Emerging Markets”
2. Chien-Chung Nieh (Tamkang University), Yu-Ming Kang (Tamkang University)
   “The Impact of the Appreciation of Renminbi on Stock Prices and Real Estate Prices in China”

Special Session　14:20～18:00
Chair: Hiroshi Kamae (Hitotsubashi University), Hiromasa Okada (Nagasaki University)

1. Yihong Jiang (Shanghai University of Finance and Economics)
   Miaoli Pan (Shanghai University of Finance and Economics)
   “Legal Institution, Accounting Criterion and Investor Protection- A Comparison of the Common Law Countries and the Code Law Countries”
   Commentator: Noriyuki Tsunogaya (Kyushu University)
2. Zhang Chun (Shanghai University of Finance and Economics),LU Wei(Nanjing University)
   “Securities Analysts, Information Environment Improvement and Cash Dividend of Corporations” Commentator: Hiroyuki Aman (Nagasaki University)
3. Yue Li (University of Toronto), Daniel B. Thornton (Queens’ University), Michael Welker (Queens’ University)
   “Corporate Governance and the Value Relevance of Proved and Probable Oil and Gas Reserve Disclosurs:Canadian Evidence”
   Commentator: Takahito Kondo (Nagasaki University)
4. Chien-Chung Nieh (Tamkang University),Chia-Yen Yeh (Tamkang University),
   “Panel Threshold Analysis for the Impact of Institutional Ownership on Firm Value”
   Commentator: Hiroshi Moriyasu (Nagasaki University)

   Break

5. Wang Qing (Southwestern University of Finance and Economics),HAN Xin-tao(Southwestern University of Finance and Economics)
   “Can Monetary Policy Target on Asset Price? -the Empirical Research based on Real Estate Price” Commentator: Zhu Baohua(Shanghai Jiao Tong University)
6. Masayuki Susai (Nagasaki University)
   “Volume or Order Flow? : Which is More Informative in Really　Traded Yen/Dollar Foreign Exchange Market with new Data Set?” Commentator: Takeo Minaki(Hokusei Gakuen University)
7. Shengzu Wang(Fudan University)
   “The Impact of Monetary Policy Credibility on Exchange Rate Volatility: a Small Open Economy Case”
   Commentator: Takeshi Kudo (Nagasaki University)
8. Zhang Qiaoyun(Southwestern University of Finance and Economics),
   Chen Yuejun (China Banking Regulatory Commission)
   “Does the Premature Withdrawal Effect the Deposit Interest Rate Pricing?　- An Analysis Based on Risk Sharing between Depositors and Banks”
   Commentator: Shigeru Uchida (Nagasaki University)

Closing Address : 18:00～18:10
Tadashi Tojo(Nagasaki University)

Dinner : 19:00～
Venue：Red Lantern